A good contract by definition is one that is fair and reasonable and is a win-win situation for everyone involved. But how do physicians ensure they are getting a good contract before agreeing to work for a hospital or group practice?
Understand the pros and cons of various compensation methods you might be offered in an employment contract.
Many young doctors begin their professional lives as employed physicians, then transition into full or part owners of a practice. Deciding between employment and solo practice is a big decision. Whatever the choice, it has to be done right.
It’s important to have open and ongoing communication with your facility administrators to maintain an accurate compensation plan. To ensure you are paid for the work you do, it’s essential to be actively involved in reviewing work Relative Value Units (wRVU) calculations.
Traditionally, the sales price — or value — of a medical practice depends on the clinical specialty, the operating costs of the enterprise, and certain performance metrics.
For the past 24 years, Van Mask, MD, has traveled throughout the United States as an emergency medicine locum tenens physician. He often calls the hospital parking lot home, living in his trailer before hauling his horse and mule to the next town needing his services. In late 2010, he was making arrangements to work holiday shifts at a Lubbock hospital emergency department when his life changed.
Physicians can get paid during credentialing.
Got questions about Physician Employment in Texas? Call the Knowledge Center.
TMA Career Center
New to Texas
Physician Contracts Resource Center
Physician Employment Protections
Practice Consulting - Closing or Selling Your Medical Practice
What's My Practice Worth? A Comprehensive Guide to Practice Valuations and Sales
Hot Topic Bibliography on Employed Physicians
Whether you’re just starting out, joining an established group, or need help growing your practice, tap into TMA education and professional development programs to learn about everything from medical records management to marketing. No matter how you choose to practice, be sure to access free TMA resources for personal and professional growth.
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The Joint Commission (TJC), the Texas Medical Board, and other entities have standards that require physicians to maintain professional conduct and acceptable behavior and may discipline or take other adverse action against physicians who exhibit unprofessional conduct or disruptive or inappropriate behavior.
Read the White Paper
Employer-provided benefits are often limited, and you may lose your coverage when you change jobs. At TMA Insurance Trust we can help. Contact us today.
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